Short Interest in Iconix Brand Group, Inc. (ICON) Expands By 15.4%

Iconix Brand Group, Inc. (NASDAQ:ICON) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 11,146,903 shares, a growth of 15.4% from the November 15th total of 9,663,434 shares. Approximately 22.0% of the company’s stock are short sold. Based on an average trading volume of 4,727,364 shares, the short-interest ratio is currently 2.4 days.

Several equities analysts recently commented on ICON shares. ValuEngine raised Iconix Brand Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. FBR & Co reissued a “buy” rating and set a $8.50 price target on shares of Iconix Brand Group in a research report on Thursday, September 14th. Roth Capital set a $2.00 price target on Iconix Brand Group and gave the stock a “hold” rating in a research report on Thursday, December 7th. B. Riley reissued a “neutral” rating and set a $4.00 price target (down from $8.50) on shares of Iconix Brand Group in a research report on Wednesday, November 1st. Finally, Sidoti started coverage on Iconix Brand Group in a research report on Tuesday, September 19th. They set a “neutral” rating and a $6.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $5.00.

Several institutional investors and hedge funds have recently made changes to their positions in ICON. ING Groep NV acquired a new position in shares of Iconix Brand Group in the 3rd quarter valued at approximately $11,096,000. Vanguard Group Inc. raised its position in shares of Iconix Brand Group by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,204,245 shares of the brand management company’s stock valued at $42,871,000 after purchasing an additional 481,845 shares in the last quarter. Smith Graham & Co. Investment Advisors LP raised its position in shares of Iconix Brand Group by 57.2% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 1,190,598 shares of the brand management company’s stock valued at $6,775,000 after purchasing an additional 433,018 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Iconix Brand Group in the 2nd quarter valued at approximately $842,000. Finally, Permit Capital LLC raised its position in shares of Iconix Brand Group by 16.6% in the 2nd quarter. Permit Capital LLC now owns 774,927 shares of the brand management company’s stock valued at $5,355,000 after purchasing an additional 110,400 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Iconix Brand Group (NASDAQ:ICON) opened at $1.49 on Thursday. Iconix Brand Group has a 52-week low of $1.36 and a 52-week high of $10.80. The stock has a market capitalization of $82.76, a P/E ratio of 1.39 and a beta of 1.38. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.02 and a quick ratio of 1.02.

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About Iconix Brand Group

Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. The Company’s brand portfolio includes brands, such as Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko Unltd/Mark Ecko Cut & Sew, Zoo York, Umbro, Lee Cooper and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.

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